Objective: To perform the teaching responsibilities in such a manner that satisfies me as well as the vision of the institution and carry out research driven to find the truth rather than the reward for it.

E- Mail     ayyubi100@yahoo.com;





Ph. D. 2018

Thesis titled “Pakistan’s Potential for Free Trade with Neighbouring Countries”

School of Accountancy & Finance, University of Central Punjab

  1. Phil. 2010

Faculty of Commerce, University of Central Punjab

Thesis titled “An Analysis of Fiscal Discipline in Pakistan in the Context of Fiscal Responsibility and Debt Limitation Act, 2005”.

Masters in Economics 1999

(Majors in Development Economics)

Government College University, Lahore.

Graduation 1996

Government College (University), Lahore.

Intermediate 1994

Government College (University), Lahore.

Matriculation 1991

Government High School, Sheikhupura




Permanent Faculty Member


2000 – 2008 Lecturer and then Assistant Professor Economics

Garrison Degree College Lahore

2008 – 2012 Assistant Professor Economics

Faculty of Management Studies – University of Central Punjab

2012 – date Assistant Professor, Department of Economics

Forman Christian College – A Chartered University

External Examiner and Paper Setter  


2002 – 2011 Government College University

2006 – 07 Lahore College for Women University

2008 – 2011 University of Punjab

Research Dissertations Supervised at University of Central Punjab 

  1. An Assessment of Corporate Response to the Code of Corporate Governance, 2002 in Pakistan 
  2. Causality between Profitability, Number of Bank Branches and Customers in Pakistan
  3. Sectoral Analysis of Advances, Deposits and NPLs in the Banking Sector of Pakistan
  4. Assessment of CSR Practices in Financial Sector of Pakistan
  5. Assessment of CSR Practices in Non Financial-Non Textile Corporate Sector of Pakistan
  6. Impact of Capital Flows on Employment Opportunities in Pakistan
  7. Impact of Public Debt on Inflationary Trends in Pakistan
  8. Comparative Analysis of Customer Satisfaction under Conventional and Islamic Banks in Pakistan
  9. Role of SME Bank and SMEDA in the Development of SMEs in Pakistan
  10. Financial Performance Analysis of Life Insurance Companies in Pakistan 1993-2008
  11. The Potential and Challenges of Takaful Industry in Pakistan
  12. Impact of Monetary Policy Statement on KIBOR and T-Bill Auctions in Pakistan
  13. An Assessment of Compliance with the Code of Corporate Governance in Pakistan (2008-09)
  14. A Qualitative Assessment of Relationship between Gawallas and Tetra Pack firms in the Dairy Industry of Pakistan
  15. A Causal Analysis of Internal Debt, Gross Domestic Product and Inflation Rate in Pakistan
  16. Performance of First Women Bank Ltd. to Support Women Entrepreneurs in Pakistan
  17. Impact of Sovereign Credit Rating on Foreign Credit Rating in Pakistan (1990-2009)
  18. An Investigation in to the Determinants of Dividend Policy in Pakistan
  19. An Analysis of CSR Practices of Environment Damaging Corporate Sectors in Pakistan
  20. The Determinants of Financial Development in Pakistan (1990-2009)
  21. Analytical Review of Credit Disbursement and its Impact on Pakistan’s Economy
  22. Impact of Exchange Rate Fluctuations on Foreign Trade
  23. Impact of Stocks’ Index Fluctuations on Foreign Direct and Portfolio Investment in Pakistan
  24. Impact of Globalization on Developed / Developing Countries – A Review of Empirical Evidence  
  25. Problems faced by SMEs in Pakistan – A Case Shoe Making Industry 
  26. Determinants of Dividend in the Corporate Sector of Pakistan 


Research Dissertations Evaluated for External Assessment (GCU)

  1. A Review of Housing Finance in Lahore (2005)
  2. Contribution of Leading Financial Institutions in the Development of SMEs in Pakistan (2006)
  3. Impact of Foreign Entry on the Domestic Banks in Pakistan (2007)
  4. Impact of WTO Quality Standards on Horticulture Sector – A Case of Fruit Sector of Pakistan 1984-2006 (2007)
  5. Sectoral Distribution of Bank Credit in Pakistan (2008)
  6. Impact of Financial Sector Reforms on Efficiency of Commercial Banks in Pakistan (2008)
  7. Performance of Interest Free Banking in Pakistan (2010)
  8. Services Management in Banking Sector of Pakistan (2010)
  9. Electricity Shortage in Pakistan – A Survey of Potential Remedial Measures
  10. Money Market Instruments – Patterns of Risk and Return Association in Pakistan (2010)
  11. Overview of Islamic Banking in Pakistan and its Potential (2010)
  12. Internalization of Pakistan’s SMEs – A Diagnostic study of Faisalabad’s Soap Manufacturing Units (2012)
  13. Analysis of the Challenges faced by Microenterprises owned by Women Entrepreneurs in Lahore (2012)
  14. Constraints to the Growth of Small Dairy Farmers in Punjab (2014)
  15. Perception of Fashion Entrepreneurs about the Importance of Social Media (2014)
  16. Hindrances in Business Undertakings in Underdeveloped Areas (2014)
  17. Role of Central Bank and Banking Sector in Development of Agriculture Sector in Pakistan (2015)
  18. Predicting Listed Companies’ Failure in Pakistan using Altman Model: A Case Study of Textile Sector on Lahore Stock Exchange (2015)
  19. Economic and Non Economic Determinant of Happiness: Evidence from Lahore (M Phil thesis supervised by Dr. Bilal Mehmood) (2016)
  20. Growth Constraints of SMEs in Tableware Industry of Pakistan
  21. Private Returns to Education: Case Study of Public Sector Health and Higher Education Institutions in the District of Lahore (M Phil thesis supervised by Dr. Tasneem Zafar) (2016)
  22. “The Impact of Economic Hegemony on Economic Performance in Developing and Developed Regions” by Ms. Sadia Munawar (M Phil thesis supervised by Dr. Saima Sarwar) (2017)
  23. “Impact of International Intellectual Property Right Treaties on Socio-Economic Performance of WTO Members with Special Focus on Pakistan‖” by Mahvish Muzzaffar (M Phil thesis supervised by Dr. Saima Sarwar) (2017)
  24. “Effect of public debt on economic growth in developed countries: An empirical analysis” by Noman Naveed (M Phil thesis supervised by Mr. Adnan Habib) (2017)
  25. “Exploring the Entrepreneurial Education Models used in different Universities of Lahore and their Impact” by Aatika Shakoor (MS Thesis supervised by Mr. Uzair Ahson) – 2017
  26. “Impact of Non-Renewable Resources on Economic Growth: Empirical Evidence from Non-Renewable Economies (NREs)” by Nimra Ejaz (M Phil thesis supervised by Mr. Adnan Habib) (2017)
  27. Exploring the Linkages between Entrepreneurial Behaviour and Organizational Performance: A Study of Academic Heads in Public Sector Universities of Lahore, Pakistan.’ by Areeba Arif (M Phil thesis supervised by Dr. Uzair Ahson) (2020)


Research Work Supervised at FC College – A Chartered University


  1. Water Wastage in Pakistan’s Agriculture Sector and Water Pricing as A Method of Control by Maheen Amer – MS Thesis (2013)
  2. Demographic Determinants of discouraged Workers in Pakistan (A crossectional Analysis (2010-11) by Farzeen Anwar – MS Thesis (2014)
  3.  “Man Who Thinks He Does Not Needs a Hospital – Patterns and Determinants of Self-medication in Pakistan.” By Aliza Khan – MS Thesis (2014)
  4. An Analysis of Trade between India and Pakistan by Faryal Manzoor – Undergraduate Thesis (2015)
  5. The Economics of Wheat in Pakistan: A Study on the Impact of Support Price on Wheat Production by Ayesha Bibi – Undergraduate Thesis (2017) 
  6. The Impact of Public Debt on Economic Growth by Humayon Khan – Undergraduate Thesis (2017)
  7. The Socio-Economic Causes and Effects of Rural-Urban Migration on Immigrants’ Households: A Case Study of Quetta, Balochistan by Ikramullah Khan – M Phil Thesis (2018)
  8. Economic Agenda of Political Parties in Pakistan: An Analysis based on Election Manifestos (2002-2018) by Saarma Saeed – M Phil Thesis (2020)
  9. 5-Stages of Child Survival – Hopes and Challenges in Pakistan by Muntaha Imtiaz – M Phil Thesis (2020)
  10. Household Determinants of Out-Of-Pocket Health Expenditure in Pakistan by Ayesha Arshad (20-27002) – M Phil Thesis (2020)
  11. Household Saving Behavior in Pakistan: Evidence from HIICS Data by Hafiz Ali Taymoor (20-27007) – M Phil Thesis (2021)
  12. Drivers of Female Labor Force Participation in Pakistan by Mariba Isfar (213442061) – M Phil Thesis (In progress)
  13. The effect of Trade Openness on Income Inequality – a Comparison of South Asian and East Asian Countries by Kainat Haider (19-27017) – M Phil Thesis (In progress)


Papers & Publications

Ayyubi, M.S. and Aslam, Q. (2017) Pakistan’s Trade with India – Disaggregated Prospects, Forman Journal of Economic Studies, Vol. 13, pp. 33-54

Manzoor, F. and Ayybi, M.S. (2018) U-shaped Hypothesis of Female Labor Force Participation and Economic Development: Evidence from South Asia, Paper presented at National Conference on CPEC, Institutions and Inclusive Growth in Pakistan on 27-28 February, 2018, Organized by University of Gujrat.

Iqbal, Z., Ayyubi, M.S. Farooq, A. and Lodhi, S. (2019) Microeconomic Impact of GST on Household Consumption Patterns in Pakistan, Forman Journal of Economic Studies, Vol. 15, pp. 137-155

Saeed, S. and Ayyubi, M.S. (2019) Was there a ‘unique selling point’ in the Economic Agenda of PTI – A Comparative Study of Election Manifestos of leading political parties in Pakistan, Paper presented in AERC Conference held in Islamabad on 18- 19 November 2019 by University of Karachi

Lodhi, S., Iqbal, Z. and Ayyubi, M.S. (2021) Shifting Paradigm in the Higher Education Sector of Pakistan during COVID-19: An Empirical Analysis of the Online Teaching Experience, Empirical Economic Review, Vol. 4(1), pp. 116-136


Professional Highlights

  • Produced 100% Board and University Results Continuously for Six Years at Garrison Degree College Lahore.
  • Judged as Best Presenter in Humanities in Annual Faculty Presentations at Garrison Degree College, Lahore.
  • Organized a Pre Budget Seminar for Federal Budget 2008-09
  • Organized a Post Budget Seminar on assessment of Federal Budget in the Context of Political Manifestos in Pakistan in 2009
  • Organized a Pre Budget Seminar for Federal Budget 2009-10
  • Preparation of Proposals for Federal Budget 2010-11 and Prepared the Report for the Faculty of Management Studies, University of Central Punjab.
  • Organized a distinguished Lecture Series on the centenary of the department of Economics at FC College in 2015, where Dr. Deepak Nayyar, Dr. Nadeem-ul-Haque, Dr. Akmal Hussain, Dr. Sohail Jahangir Malik, Dr. Khalid Malik, Dr. Shaista Khilji and Mr. Ali Tauqeer Sheikh, Dr. Sohail Jahangir Malik and Dr. Khalid Malik delivered lectures in the Series.
  • Advisor, Lucas Economics Society at FC College – A Chartered University     2013-17.
  • Serve as Associate Editor of Forman Journal of Economic Studies
  • Coordinator – Admissions Committee of M Phil Program at FCCU
  • Coordinator – PhD program


List of Courses Taught 

  • Introduction to Economics (Undergraduate)
  • Principles of Microeconomics (Undergraduate)
  • Principles of Macroeconomics(Undergraduate)
  • Macroeconomic Management (Graduate: MS/MPhil)
  • Managerial Economics (Undergraduate)
  • International Trade (Undergraduate)
  • Monetary Theory (Undergraduate)
  • International Finance (Undergraduate)
  • Financial Institutions of Pakistan (Undergraduate)
  • Issues in Pakistan’s Economy (Undergraduate)
  • Development Economics (Theory and Policy) (Undergraduate & Graduate levels) 
  • Money and Capital Markets (Undergraduate)
  • Corporate Governance (Graduate: MS/MPhil)
  • Economics and Public Policy (Graduate: MPhil – Public Policy)
  • Economic Applications of Business (Undergraduate)
  • Political Economy and Public Budgeting (PhD – Public Policy)